Average retail gasoline prices in Minnesota have fallen 1.6 cents per gallon in the past week, averaging $1.94/g Sunday, according to GasBuddy’s daily survey of 2,856 gas outlets in Minnesota.
This compares with the national average that has fallen 2.3 cents per gallon in the last week to $2.02/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Minnesota during the past week, prices Sunday were 127.8 cents per gallon lower than the same day one year ago and are 24.8 cents per gallon lower than a month ago. The national average has decreased 27.1 cents per gallon during the last month and stands 125.8 cents per gallon lower than this day one year ago.
“Welcome back, $1.99! This is the week that we’ll see the return to a national average of $1.99/gal, but motorists shouldn’t expect it to last very long. Refineries have been processing less crude oil and thus producing less gasoline, which will contribute to a soft bottoming out of the national average before a small recovery back in the very low $2’s,” said Patrick DeHaan, senior petroleum analyst with GasBuddy.
“And while this year will still feature far lower prices than last year, we’ll be subject to a seasonal lift in gasoline prices as refineries slow production to do maintenance and to make the progressive switch over to cleaner burning summer gasoline.
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“On the diesel side of things, price drops have continued to outpace drops in gasoline prices. Diesel prices dropped an average 7 cents per gallon in the last week to $2.835/gallon. By the start of February, diesel will fall under $2.80/gal, and by Valentine’s Day, they’ll fall to $2.65/gal, a sweetheart deal for consumers and trucking companies that have seen diesel prices lag behind gasoline prices,” DeHaan predicted.
